Forex News (from InstaForex) - page 150
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Gold Steady as Traders Focus on Fed Rate Hikes
Gold prices eased as the dollar gained in thin trading and on expectations that the U.S. Federal Reserve will raise interest rates more in 2017. Spot gold edged down 0.27 percent at $1,128.4 an ounce.
U.S. gold futures for February delivery settled down 0.22 percent at $1,130.70 an ounce. Recent evidence of U.S. economic strength could incite the Fed to tighten credit again sooner than later. Higher rates tends to discourage purchasing of non-interest paying bullion, that is priced in dollars. SPDR Gold Trust said that holding were down 0.43 percent to 824.54.
Silver fell 0.94 percent at $15.78 per ounce. Platinum slipped 0.78 percent to $907.80 while palladium dropped for the seventh consecutive session, by 0.57 percent to $653.72 per ounce.
News are provided byInstaForex.
Japan Inflation Jumps 0.5% In November
Consumer prices in Japan were up 0.5 percent on year in November, the Ministry of Internal Affairs and Communications said on Tuesday 0 accelerating from the 0.1 percent gain in October.
But core CPI, which excludes food prices, sank 0.4 percent on year for the second straight month.
On a monthly basis, both overall and core CPI were flat.
Overall inflation for the Tokyo region, considered a leading indicator for the nationwide trend, was flat on year in December after rising 0.5 percent in November.
Core CPI slid 0.6 percent on year in December after falling 0.4 percent in November.
On a monthly basis, overall inflation fell 0.4 percent and core CPI shed 0.1 percent.
News are provided byInstaForex.
Super Mario Run's Reign as Highest-Grossing App Ends
As of December 24, Nintendo Co.'s debut mobile smartphone game, Super Mario Run was no longer the highest-growing iOS application in any country, researcher App Annie reported.
Since its release on December 12, Super Mario Run held the top spot as the most profitable app in 49 countries. While the top is still the top free app downloaded in 88 countries, it has declined from a peak of 138 logged in December 17.
The decline in ranking may reflect the issue of consumers with the app's price. While it can be downloaded free of charge, users are required to pay $10 in order to progress beyond the first three levels of Super Mario Run.
This is contrary to the industry's standard, where majority of mobile games can be played for free but encourages its players to purchase in-game items, a system generally preferred by fans. The steep $10-dollar price tag is also criticized by many gamers, and according to Apptopia Inc., only 1% to 2% of people who have downloaded the app will acquire the full version.
Still, the company's shares surged as high as 4.8% on Monday as investors are perceived to have priced in most of the negative feedback. Nintendo's share los as much as 20% from December 12 until last week as the game's troublesome launch raised concerns regarding the company's capacity to continue its push into the mobile platform.
News are provided byInstaForex.
Fxwirepro: South Korean Won Almost Flat Against Major Peers Despite Robust Industrial Output, Service Sector Output Data
EUR/KRW is currently trading around 1,259 mark.
Pair made intraday high at 1,260 and low at 1,258 levels.
Intraday bias remains neutral for the moment.
A sustained close above 1,260 will take the parity higher towards key resistances around 1,266, 1,272, 1,280 and 1,287 marks respectively.
On the other side, a consistent close below 1,260 will drag the parity down towards key supports around 1,253, 1,242, 1,232, 1,229, 1,222, 1,218, 1,209, 1,203, 1,199 and 1,163 marks respectively.
Seoul kospi shares open down 0.20 pct at 2020.42.
South Korea?s Jan BOK manufacturing BSI decreases to 73 vs previous 74.
South Korea?s November industrial output growth increases to 3.4 % (forecast 1.0 %) vs previous -1.7 %.
South Korea?s November industrial output y/y increases to 4.8 % (forecast 2.2 %) vs previous -1.3 % (revised from -1.6 %).
South Korea?s November service sector output growth increases to 0.1 % vs previous -0.3 % (revised from -0.2 %).
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to go short on EUR/KRW around 1,260 with stop loss at 1,266 and target of 1,252/1,248.
News are provided byInstaForex.
Gold Edges Up, Buoyed by Lower Asian Equities
Gold prices edged up, lifted by the softer dollar and relatively lower Asian equities. Spot gold inched up 0.2 percent to $1,144.36 per ounce.
U.S. gold futures climbed 0.4 percent at $1,145.40 an ounce. The Shanghai Gold Exchange said that it will limit the amount of gold investors are able to trade at a time, a move which analysts claim could restrain the influence of institutional investors towards prices. Investors continue to cut holdings in bullion-backed exchange-traded funds, as assets have been down 1.1 metric tons to 1,778 tons as of Tuesday, the lowest since May, according to Bloomberg data.
Commerzbank AG is one of the banks that has flagged potential support for bullion next year, which remains 7.7 percent higher in 2016 despite its decline in the fourth quarter. According to the lender, uncertainty in association with Trump's presidency and the U.K.'s discussions to leave the European Union could support gold.
News are provided byInstaForex.
Philippines Manufacturing PMI Slows In December - Nikkei
The manufacturing sector in the Philippines continued to expand in December, although at a slower rate, the latest survey from Nikkei revealed on Tuesday with a PMI score of 55.7.
That's down from 56.3 in November, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.
Individually, output growth quickened while total new orders rose at a slower rate.
Vendor performance deteriorated for the first time in survey history, while input cost inflation was at a survey record high.
News are provided byInstaForex.
Tesla Postpones Brexit Price Increases for U.K. Buyers
The plans of Tesla Motors Inc. to raise prices by five percent in the U.K. was postponed until Jan. 15 from the initial start of the year deadline, according to its latest statement. Vehicles that were previously ordered and built by mid-April will still have free access to to the firm's Supercharger battery network which is otherwise subject to new fees.
Tesla is raising prices in Britain in regards to the pound's decline since the U.K.'s referendum in June to leave the European Union. The Palo Alto has given clients a week's notice of the change. According to its website, the Model S currently costs 58,900 pounds ($72,400), that claims drivers save nearly 6,500 pounds on gasoline and taxes in a five-year period.
Consumers from the U.K. were hit by price increases from several firms since the June's referendum. Apple Inc. increased the price of a few of its laptops by almost 20 percent, while Tesco Plc pulled out items from its shelves in October as a result of the Brexit-inspired price discord with Unilever Plc.
News are provided byInstaForex.
Japan Manufacturing Sector Picks Up Steam - Nikkei
The manufacturing sector in Japan continued to expand in December and at a faster rate, the latest survey from Nikkei revealed on Wednesday with a manufacturing PMI score of 52.4.
That's up from 51.3 in November, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
Individually, operating conditions improved at the sharpest rate since December 2015. Production and new orders both expanded at their quickest rates of the year.
In addition, cost inflationary pressures accelerated to a 17-month high.
News are provided byInstaForex.
Gold Prices Edge Down as Dollar Hovers Near 14-Year Highs
Gold prices were lower after reaching a three-week peak during the previous session, as the U.S. dollar wavered near 14-year highs against a basket of major currencies. Spot gold was 0.2 percent lower at $1,156.96 per ounce.
U.S. gold futures slid 0.4 percent to $1,157.70 an ounce. The dollar index was last at 103.34 after rising to 103.82 the previous day, its strongest since December 2002. Holdings of the SPDR Gold Trust fell 1.01 percent to 813.87 tonnes. In December, $2.27 billion was pulled out of the world's biggest exchange-traded fund backed by the precious metal. This was the the third consecutive monthly loss and the largest since May 2013.
Platinum futures climbed by over four percent at $944.20 per troy ounce while palladium was 3.9 percent higher at $709.90 per troy ounce. Silver prices closed up 2.6 percent to $16.409 per troy ounce.
News are provided byInstaForex.
Singapore Private Sector PMI Slows In December - Nikkei
The private sector in Singapore continued to expand in December, albeit at a slower pace, the latest survey from Nikkei revealed on Thursday with a PMI score of 52.0.
That's down from 52.8 in November, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.
Individually, expansion in both output and total new orders continued at slower rates, although employment climbed at a survey record pace.
December also saw the largest recorded monthly increase in changes amid rising costs.
News are provided byInstaForex.